Cosmopolitan has been sold!!!

[BayAreaOlli]

Deutsche Bank found a buyer for the Cosmo.

http://www.reviewjournal.com/busines...up-173-billion

[Brooklyn Marc]

Wow, that a huge number, wouldn't have thought they would have gotten even close to that and BlackStone doesn't make investments lightly.

[ArmyVegas]

Wow. They bought it for less than Half of what it cost to make. In addition to that they inherit the rep that the hotel already has. That's a hell of a buy. I see now why they paid all cash. Helps the Deutsche Bank and stole it before Crown Resorts from Australia could make a bid. Last I heard they were preparing a 2 Billion+ bid.....Nice....

[artedm]

just because of the nature of blackstone they will have to sell / ipo in the future

[Brooklyn Marc]

just because of the nature of blackstone they will have to sell / ipo in the future

Agreed BlackStone is universally known for breaking up companies it buys or holds as portfolio companies, or holding on to real estate assets short term for profit. Would be stunned if the property doesn't change hands again in the next 2 years if no IPO is done I. That time frame.

[PorkChopExpress]

Will be interesting to see how much Blackstone will want to change the property, put in their own management, be hands-on owners, etc. I'd suspect they envision a process of streamlining operations and an eventual IPO, just like they did with Hilton.

[artedm]

I think blackstone still owns pieces of caesars and hilton

[MikeG3714]

Wow, that is pretty impressive. Maybe the second greatest real estate buy in history next to the Louisiana Purchase?????

[anonymous1989]

I guess that if they invested in it they would be able to grow it on the new level. Time is changing and if you want to be on the market invest money. I have learned how to make the right alternative investments reading one blog about it. I'm very thankful to my friend who shared that blog with me. To tell you the truth I didn't know that it is so hard and you have to know so many things. But I have learned and now I'm thinking of investing some money in a small business. I hope that this will work and I hope that people who bought cosmopolitan will bring it to the top!